NBU invests 500 billion soums in commercial real estate to support businesses

The National Bank of Uzbekistan (NBU) invests 500 billion soums in the purchase of commercial real estate from developers, then to transfer it to entrepreneurs for rent or leasing on preferential terms.

President of Uzbekistan Shavkat Mirziyoyev supported the initiative and instructed commercial banks to take on an intermediary role. Financial institutions will buy real estate from developers and provide it to businesses on favorable terms.

The NBU will channel these funds through its investment company, providing entrepreneurs with access to commercial real estate without significant initial costs.

In addition, the head of the Central Bank Timur Ishmetov will develop projects for leasing empty non-residential premises together with developers. The planned investment amount will be 4 trillion soums. These measures will involve 50 thousand square meters of commercial space in the economy and create 100 thousand jobs.

NBU Governor Alisher Mirzoatov said in an interview with O'zbekiston 24 that the bank will focus on developing the service sector, providing employment for 3 million people, half of whom live in Tashkent.

The President also identified 19 regions of the country where the growth rate of the service sector slowed down and fell below 10%. To accelerate their development, the government will prepare a comprehensive program with concrete steps.

In 2025, the state will allocate 67 trillion soums to support the service sector and finance 75.3 thousand projects. The NBU will play a key role in providing timely funding for these initiatives.